© copyright 2023, All California Lending. All right reserved
Chris Goulart, Broker Associate, DRE Lic. # 01458390 NMLS Lic. # 298819 Bay Mountain Mortgage broker Lic. #01227690
We specialize in California hard money loans. Our loans are secured by real property located within the state of California. We do not offer personal loans, consumer loans nor unsecured loans – all of our hard money lending must be secured by real estate. We work throughout the entire state and with most property types. Our lending is loan to value driven, with loan to value ratios ranging from 35% to as high as 75% or more in some cases. In addition we are able to help secure funding for construction completion and rehab projects, using the as complete or after repair value (ARV lending) as our basis for the loan to value calculation.
Our programs vary widely. Hard money loans are often times unique loans, meaning it is always best to call us and discuss your specific scenario to ensure you have the proper information on how we can help. With that being said, we can give an overview of our hard money programs that you can use as a general guideline or starting place to see if we may be the right fit for your needs.
Commercial, residential, industrial, mixed use, multi-family and other fully improved properties can be generally lumped together into a single category. Our hard money loans secured by fully improved properties typically cap out at 60-65% loan to value (meaning we can help you obtain a loan for 65% of the value of the property), although we can be more aggressive and meet a higher loan to value request if the situation and transaction makes sense. For purchases we can typically go a little higher on the loan to value – based on the purchase price – and help finance up to 75%. In some refinance transactions we can also meet this higher loan to value.
Rehab and construction completion hard money loans can be lumped into another category. With these types of loans we typically are going to set up a structure that will include a fund control account for the work needing to bring the project to completion, as well as an interest reserve account to make monthly interest payments on the loan for a period of time. These loans are typically based on the as complete or after repair value of the property, and we can typically help obtain funding up to 65% of the completed value. We can put these loans together on both purchases and refinances and can help with most property types.
Ground up construction hard money loans are yet another general category. These loans have more moving parts than basic rehab or construction completion loans do and the structure can vary depending on how far along in the construction process you are. A general rule of thumb on these types of loans is that we can help finance about 75% of the total project cost. For construction loans, however, it is best to call and speak with us directly as the structure can vary widely depending on whether you currently own the land, have plans and permits in hand and the scope of the full project.
Land loans are loans made on land with no improvements. Typically speaking land loans are going to cap out somewhere between 35-50% of the value of the property. The location and type of property involved will have a lot to do with how we can assist in your hard money loan request. In addition, on refinances, the original purchase price and date of purchase will have a larger impact on the loan we can help with than it would on other transaction types.
If you are in need of a California hard money loan, please call us today to discuss the options we can provide – 877 462 3422.